Leidos (LDOS) Q1 FY26 earnings call

Earnings call· Mar 2026 (Q1 FY26)· Information Technology· May 5, 2026

Source: earnings call transcript

Leidos delivered a strong Q1 FY26, driven by robust performance in Intelligence and Digital, and Homeland segments, and the accretive Entrust acquisition. The company raised its full-year guidance for revenue, EPS, and operating cash flow, signaling confidence in its NorthStar 2030 growth strategy. While Q2 is anticipated to be a low point for revenue and margin due to program transitions and growth investments, management remains bullish on the long-term outlook, particularly in Defense Tech, managed health, and digital infrastructure, leveraging AI as an accelerant.

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LDOS operating KPIs by quarter

LDOS operating KPIs stated on its earnings calls, by fiscal quarter
KPI	This call Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Change vs prior quarter
Book-to-bill ratio	0.8 ratio Still, we're pleased with the solid book-to-bill ratio of 0.8 in the quarter and 1.1x for the trailing 12 months. Source: earnings call transcript	1.1 ratio Operating cash flow reached a Q2 record of nearly $800 million and we booked $5 billion in net awards, delivering a solid 1.1 book-to-bill ratio. Source: earnings call transcript	+37.5%

Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.

Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.